SBI Card’s This fall earnings seemed weak throughout parameters. The whole revenue has declined for the corporate and asset high quality has additionally deteriorated.
Rama Mohan Rao Amara, MD & CEO, SBI Card mentioned, “Asset quality is the main consideration, but the better way to compare the GNPA of 4.99 percent is to compare it vis-a-vis with the December quarter where the pro forma GNPA was around 4.51 percent so that way there is a marginal increase.”
He added, “After lifting of the standstill, after the Supreme Court judgement that portfolio slipped into, we recognised it and absorbed it and we have written it off.”
He additional added, “We have prepared well for the future, we want to strengthen the balance sheet and we want to position in such a way where there is opportunities in future.”
On the stress on the books, Rao mentioned, “I cannot give you future guidance in terms of specific numbers but the stress on the book is slowly coming down. Last quarter we have recovered Rs 365 crore, this quarter again we recovered more than Rs 450.”
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